Leverage Your Child Tax Benefits Income and Apply for a Loan in Nunavut. It Only Takes 5 Minutes!

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Take Out a Child Tax Benefits Loans with Magical Credit

Child tax benefits in Canada can cover your basic needs. But a growing child needs more than shelter and food. They require activities to keep them stimulated—but paying for this year’s hockey season won’t come easy if you’re low on funds.

So, you may need a loan.

But banks only care about the wellbeing of their bottom line, not your children—they would never consider loans for bad credit applicants collecting low incomes.

Fortunately, Magical Credit specializes in loans for bad credit applicants collecting lower incomes. You can leverage your child tax benefit income into a child tax credit loan from Magical Credit!

I want to borrow:

< $2000 >
$500
Min
$10,000
Max

Why Get Magical Credit’s Child Tax Benefit Loans in Nunavut?

  • Dental Care – Children brush teeth like most people read. Sure, they’ll skim for a second, but it’s not thorough. Regularly scheduled dental cleanings are expensive, but our child tax benefit loans in Nunavut can cover dental costs.
  • Auto Repairs – You love telling your kids you walked to school every day in the cold – uphill both ways – but you know it’s a lie. Get your car fixed with the money from a fast loan, and give your kid a ride to school on cold days.
  • Childcare – Your new job means your child needs a nanny after school. They don’t come cheap. Luckily, our child tax benefit loans come easy and quick, so you can make sure your child is in good hands while you’re not around.
  • Debt Consolidation –Leverage your child tax credit into a debt consolidation loan in Nunavut if you’ve compiled a number of consumer debts. You’ll only have to focus on one monthly payment and – best of all – your children.

Nunavut Child Tax Benefit Loans FAQs

I have bad credit, but I need money for a nanny. Would you consider me for a loan?

Yes—you could be considered. We specialize in loans for bad credit applicants and low-income families because we consider your entire history of credit instead of your credit score.

Can I be considered for a child care loan if I’m unemployed?

It depends. You need to be collecting an income of $600 monthly via direct deposit. We accept non-traditional incomes such as employment insurance and child tax benefits.

What do I need to apply?

To apply, you need the following:

  • Be 18 years or older
  • Valid chequing account
  • Proof of income
  • Valid ID
  • SIN

Need an emergency loan, but aren’t sure you can keep up with the loan repayment terms? Calculate your monthly loan payment schedule with our short-term, personal loan calculator!

Our loans are considered short-term loans and have up to a 12-24 month term with an interest rate of 3.9% per month.
Loan Example
Term
1 Year
APR
56.50%
Amount
$2,000.00
Fees
$194.00
Interest Rate (46.8%)
$936.00
Total Cost of Borrowing
$1,130.00
Total Due End of Term
$3,130.00
NOTE: You can pay off your loan at any time with no penalty.
You will only pay interest up to the date you borrow it.
Terms and Conditions: (APR 23% min - 59.7% max) Loan amortization is between 12-24 months. Loan must be paid in full by the end of term, no extensions or exceptions, no automatic renewals. Failure to pay your debt on time with impact your future credit with Magical Credit Inc. and other credit lenders. All delinquencies will be reported to the Credit Bureau.